Bank of Montreal Can Has $311.29 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Bank of Montreal Can lifted its position in shares of BlackRock, Inc. (NYSE:BLK) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 329,337 shares of the asset manager’s stock after acquiring an additional 8,620 shares during the period. Bank of Montreal Can owned approximately 0.22% of BlackRock worth $311,293,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Lazard Asset Management LLC lifted its stake in BlackRock by 9.5% in the 1st quarter. Lazard Asset Management LLC now owns 938 shares of the asset manager’s stock valued at $781,000 after purchasing an additional 81 shares during the last quarter. Ascent Group LLC boosted its holdings in shares of BlackRock by 51.7% during the 1st quarter. Ascent Group LLC now owns 578 shares of the asset manager’s stock valued at $482,000 after acquiring an additional 197 shares in the last quarter. Waverly Advisors LLC grew its position in BlackRock by 405.1% during the 1st quarter. Waverly Advisors LLC now owns 2,652 shares of the asset manager’s stock worth $2,210,000 after acquiring an additional 2,127 shares during the last quarter. Industrial Alliance Investment Management Inc. increased its holdings in BlackRock by 3.2% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 640 shares of the asset manager’s stock worth $534,000 after purchasing an additional 20 shares in the last quarter. Finally, Ancora Advisors LLC raised its position in BlackRock by 0.5% in the first quarter. Ancora Advisors LLC now owns 27,140 shares of the asset manager’s stock valued at $22,626,000 after purchasing an additional 146 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Barclays boosted their price target on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their price target on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research report on Monday, November 11th. The Goldman Sachs Group lifted their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. increased their price objective on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company upped their price target on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Trading Up 0.4 %

Shares of BLK stock traded up $4.26 during trading hours on Monday, hitting $1,040.72. 67,956 shares of the company were exchanged, compared to its average volume of 573,168. The company has a 50 day simple moving average of $984.28 and a two-hundred day simple moving average of $880.90. The firm has a market cap of $161.19 billion, a P/E ratio of 25.58, a P/E/G ratio of 1.85 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a fifty-two week low of $724.54 and a fifty-two week high of $1,068.34.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating the consensus estimate of $10.42 by $1.04. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business’s revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.91 earnings per share. Equities analysts anticipate that BlackRock, Inc. will post 43.17 EPS for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th will be issued a $5.10 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 1.96%. BlackRock’s payout ratio is currently 50.35%.

Insider Buying and Selling at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at $5,832,000. This trade represents a 64.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.90% of the company’s stock.

BlackRock Company Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.